Thoma Bravo, a private equity investment firm has acquired Ellie Mae, a cloud-based solution company, at an equity value of approximately $3.7 billion, the latter confirmed.
“The closing of this transaction represents the beginning of the next chapter in our digital mortgage journey as we work toward our North Star of automating everything automatable for the residential mortgage industry. Thoma Bravo brings deep expertise and together we are committed to supporting our lenders’ success, fostering innovation and growth of the Encompass Digital Lending Platform and accelerating our value for our ecosystem of customers, partners, and employees,” said Jonathan Corr, president, and CEO of Ellie Mae.
“Thoma Bravo has long been impressed with Ellie Mae’s unique position as the leader in mortgage technology solutions. The company’s exceptional products and deep commitment to automate the mortgage process allows it to maintain its prominent position in an industry undergoing an extensive digital transformation,” said Holden Spaht, a Managing Partner at Thoma Bravo.
The acquisition was announced on 12th February and closed on 17th April 2019.